Stocks Drop As Oil Prices Climb

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It's November 8th, 2026 Let's take a look at how the markets are doing. It is a holiday shortened week, as we had yesterday off for Labor Day. The SP500 is down one third of one percent. The Dow Jones Industrial Average is down one percent. The NASDAQ down fractions. And they're also 2000 down two tenths, or one fifth of one percent. Some headlines today are, bond yields, worries persist, is oil edges higher? Stocks are under pressure. Admits those higher oil prices. Qualcomm has signed a deal to provide Amazon custom AI chips. Qualcomm up 4.4 percent on that news. Sort of a winner that's standing out today, Qualcomm is, as there's not a lot of big movers, I take that back. Sandisk is up 3.2 percent, up 55 bucks to 17.95. Micron's up fractions, one quarter of one percent, a little bit more than fractions to 1,019. More on Micron and the whole AI trade in just a second. The Tuesday after Labor Day, thus today, has been down nine years in a row for the Dow, the S&P 500 and the Russell 2000 Is it Wall Street Traders just lingering and partying? A little bit of that. But also September is just that month where we're waiting for a buildup into the fourth quarter of October, November, December. Holiday sales, inflation date on the back half of the year, the election coming up, the midterms. This week we're going to be eyeballing a lot of inflation. But before we get there, let's start with a fun one. Eternal, a health startup founded by the athletics Alex Mather, launched a feature that turned your blood work, your sleep date and your fitness stats into a personalized AI generated weekly podcast. I think that's actually very interesting.

Once I hit 50, I started caring about all my health metrics, and probably a little less about TV shows.

So instead of getting a podcast on TV show, would I like to get a podcast on my own health? What am I doing right? I had a sleep score of 91 last night. It's the highest I've ever had. What did I do right? I'd like my biometrics to tell me, potentially at the end of the week in a podcast. So this week, it's going to be a lot about inflation as we're again, waiting to get back into earning season and the election season. Producer prices come out Thursday, September 10th. PPI will give investors look at whether the Iran War, oil shock and higher freight costs are building in the inflation pipeline. A hot reading would suggest companies are starting to pass those costs on consumers. Another argument for the Federal Reserve act and raise interest rates. Friday, we get the consumer price index. It's definitely the most critical of the three data points this week. July's reading showed some cooling, but investors will be watching to see if the global energy shock causes an uptick. Fuel costs have been in particular a pain point with diesel prices recently hitting record highs. Diesel prices is the workman's fuel. It's the trucks, the trains, the ships, the airplanes, not so much the airplanes, but into that freight model that get hit by the higher diesel costs. They're at an all-time high.

Energy prices have hit labor day.

Moving up $100 a barrel of oil. It's not good. Bad. Inflation, bad.

High inflation is bad. A little bit of inflation is okay.

And we get to the University of Michigan sentiment for the third data point that I'm watching this week on Friday, September 11th. US consumers have been throwing up red flags for several weeks, including a dismal retail sales number last month. University of Michigan Consumer Survey looked to get things on track, although the previous edition showed consumers getting more pessimistic, bracing for income and inflation.

First down.

The NFL season picks up where it left off with the Seattle Seahawks playing the New England Patriots in a Super Bowl rematch tomorrow. Following that, the San Francisco 49ers and the Los Angeles Rams will play the league's first regular season game in Australia. Technically, it's Friday morning in Australia, but because of the time difference, it will stream in the US on Thursday on Netflix, so it'll both be a good-ay and a good-night simultaneously. That's funny. Ha-ha.

Oh, one of my kids loves, one of my kids is a 49er fan. I don't want to say he loves them. The other one's a Minnesota Viking fan, because I grew up a Green Bay Packer fan. I think he chose the opposite of me. The other one's a bit of a homer, but tomorrow I get to watch Netflix and see how the NFL is doing again. The more years of practice they get at it, probably the better they'll get at it. They too use AI, they too use management to figure out what's the best presentation. Well, AMD is up 6.5 percent today. I thought Intel is having a nice day too, but we got to save some of this content for a little later in the podcast. Oil is back in charge of the market. The Middle East conflict escalated over the long holiday weekend. Now Brent Crude is knocking out $100 a barrel of oil.